Heritage Trust Co bought a new stake in FedEx Co. (NYSE:FDX) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,252 shares of the shipping service provider’s stock, valued at approximately $566,000.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Greenhaven Associates Inc. acquired a new position in shares of FedEx in the second quarter worth about $112,871,000. FMR LLC increased its stake in FedEx by 16.8% during the 2nd quarter. FMR LLC now owns 4,945,173 shares of the shipping service provider’s stock worth $693,412,000 after buying an additional 711,755 shares during the period. Nordea Investment Management AB lifted its holdings in FedEx by 40.7% in the 2nd quarter. Nordea Investment Management AB now owns 1,414,230 shares of the shipping service provider’s stock worth $191,926,000 after buying an additional 409,425 shares in the last quarter. Platinum Investment Management Ltd. boosted its position in FedEx by 128.3% in the 3rd quarter. Platinum Investment Management Ltd. now owns 722,306 shares of the shipping service provider’s stock valued at $181,674,000 after buying an additional 405,985 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of FedEx by 22.6% during the second quarter. Bank of New York Mellon Corp now owns 2,139,149 shares of the shipping service provider’s stock valued at $299,953,000 after acquiring an additional 393,747 shares in the last quarter. 71.65% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Joshua Cooper Ramo sold 13,461 shares of FedEx stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $262.70, for a total transaction of $3,536,204.70. Following the transaction, the director now directly owns 8,353 shares of the company’s stock, valued at $2,194,333.10. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP John L. Merino sold 24,981 shares of the business’s stock in a transaction dated Friday, September 18th. The stock was sold at an average price of $246.16, for a total transaction of $6,149,322.96. The disclosure for this sale can be found here. Insiders sold 110,458 shares of company stock valued at $28,715,799 over the last 90 days. 8.49% of the stock is currently owned by insiders.
Several research analysts recently commented on FDX shares. Sanford C. Bernstein upgraded FedEx from a “market perform” rating to an “outperform” rating and set a $225.00 price target on the stock in a research note on Monday, August 10th. Loop Capital increased their target price on FedEx from $248.00 to $372.00 and gave the company a “buy” rating in a research note on Wednesday, September 16th. Stephens lifted their price target on shares of FedEx from $215.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, September 10th. TheStreet upgraded shares of FedEx from a “c+” rating to a “b” rating in a research note on Tuesday, September 15th. Finally, Barclays raised shares of FedEx from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $240.00 to $360.00 in a research report on Tuesday. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $282.67.
Shares of NYSE FDX opened at $286.58 on Tuesday. The stock has a market cap of $75.25 billion, a P/E ratio of 42.33, a P/E/G ratio of 1.44 and a beta of 1.38. The firm’s 50-day simple moving average is $276.97 and its 200 day simple moving average is $205.29. FedEx Co. has a fifty-two week low of $88.69 and a fifty-two week high of $296.08. The company has a quick ratio of 1.64, a current ratio of 1.69 and a debt-to-equity ratio of 1.19.
FedEx (NYSE:FDX) last released its earnings results on Tuesday, September 15th. The shipping service provider reported $4.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.69 by $2.18. The firm had revenue of $19.32 billion for the quarter, compared to analysts’ expectations of $17.56 billion. FedEx had a net margin of 2.50% and a return on equity of 15.82%. FedEx’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the company earned $3.05 EPS. On average, sell-side analysts anticipate that FedEx Co. will post 15.59 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 28th. Investors of record on Monday, December 14th will be issued a dividend of $0.65 per share. The ex-dividend date is Friday, December 11th. This represents a $2.60 annualized dividend and a yield of 0.91%. FedEx’s payout ratio is 27.37%.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. Its FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment offers business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.